Ayala unit sees EVs hitting 50% of car sales amid oil crisis
ACMobility, the automotive arm of Ayala Corp., expects electrified vehicles to account for nearly half of new car sales by 2030, as high fuel prices accelerate the shift away from traditional engines.
“We believe that by 2030, nearly 50 percent of new vehicles sold will come from energy vehicles (EVs) or hybrids,” ACMobility CEO Jaime Alfonso Zobel de Ayala said during the company’s annual stockholders’ meeting.
The projection comes as rising oil prices—driven by ongoing global tensions—are pushing consumers to look for more cost-efficient alternatives, particularly in urban markets.
Zobel said the shift was already visible in recent data, with EV penetration reaching around 20 percent to 23 percent of new vehicle sales in March and April based on the group’s internal estimates.
He noted that demand indicators—from showroom visits to online searches—have been rising sharply, signaling growing consumer interest in electrified mobility.
“In BYD’s case, we saw nearly 200 percent growth or increase in search volume,” he said, referring to one of ACMobility’s key brands.
The surge in interest is largely driven by the widening gap between fuel and electricity costs, making EVs significantly cheaper to operate.
Based on the group’s estimates, running a gasoline-powered sedan costs nearly P7 per kilometer, compared with about P2 per kilometer for a battery electric vehicle charged at home.
“That’s about 70 percent savings,” Jaime said, adding that even fast charging options still offer meaningful cost advantages.
Beyond fuel savings, Zobel said automakers were increasingly shifting their portfolios toward electrified models, reinforcing the industry’s long-term transition.
“A lot of these OEMs (original equipment manufacturers) are redefining their portfolio into those new technology segments,” he said, noting that this trend supports their expectation of higher EV penetration.
For its part, ACMobility aims to maintain a strong position in the segment, having previously captured a significant share of the local new energy vehicle market.
The company is targeting a 12-percent share of the overall automotive market this year, with growth expected to be driven by both fully electric and hybrid models.
“Our goal is to have a consolidated market share of approximately 12 percent. BYD will be a large contributor to that. As we’ve seen in recent years, the growth in unit sales generally tends to track the revenue system,” Zobel said.
He said brands such as BYD and Kia would anchor this expansion, particularly as more competitively priced models enter the market.
Despite intensifying competition, he expressed confidence that ACMobility can sustain its position by leveraging strategic partnerships and early investments in the EV ecosystem.
The broader Ayala group, meanwhile, said it remains constructive on the outlook despite global headwinds, with executives describing the environment as challenging but manageable.
